International Paper Co., Stamford, Conn., is considering shortlist searches for international growth, international value and international small-cap equity managers in the first quarter, said Robert Hunkeler, vice president and director of investments. The $6.3 billion pension plan is not changing its 17% allocation to international equities but refining the overall portfolio's strategy, Mr. Hunkeler said. Five managers currently run six international equity strategies; Mr. Hunkeler said it is too soon to say if any will be replaced or if more managers will be hired. He would not identify the current managers. Changes could be made by March. Rocaton Investment Advisors will assist.